The euro currency is starting to consolidate around the 1.2000 level against the US dollar, as traders await the ECB monetary policy decision. If the ECB pair fails to deliver in terms of stimulus, technical analysis highlights that the EURUSD pair could rally towards the 1.2280 area. Should the ECB over deliver today, the EURUSD pair could fall back towards the 1.1950 level.
The EURUSD pair is only bearish while trading below the 1.2050 level, key support is found at the 1.1950 and 1.1890 levels.
The EURUSD pair is only bullish while trading above the 1.2050 level, key resistance is found at the 1.2180 and 1.2280 levels.
